There are three key points to Prove and explain the product of smartwatch Technical feasibility: Comparing the functions of competitors, research how many similar products in the same industry, and what functions and functions are similar

There are three key points to Prove and explain the product of smartwatch Technical feasibility: Comparing the functions of competitors, research how many similar products in the same industry, and what functions and functions are similar. Through the analysis of competing products, we can understand the other party's technical characteristics, product characteristics, development space, market conditions, user preference, and our breakthrough points. Economic feasibility: Expenses for research, research, and development of the product and the economic and social benefits that the product may bring in the future. Social feasibility: Social influence, through the promotion of the product, what social benefits the product will bring to the company, and how much social influence it will increase. I will also search for some relevant data to support my points. ACCG3001 Group Assignment - Group 4 Contacts: • Matthew Hook - matthew.hook@students.mq.edu.au • SIYI LI — siyi.li1@students.mq.edu.au • Sitong Luo - sitong.luo@students.mq.edu.au • XIN GAO- xin.gao4@students.mq.edu.au • S M Tanzeeb Ahsan Khan- s-m-tanzeeb-ahsan.khan@students.mq.edu.au • Jack Harry - jack.harry@students.mq.edu.au Growth strategy is vertical integration or related diversification The new product is Foleo Smart Watch Executive Summary: Introduction - Matt: As technological innovation continues in the smartphone industry it is vital to the success and longevity of Foleo Group to adopt these innovations into their products to remain competitive in the market. The smart wearables market is one of the fastest growing markets with a projected 19.5% growth rate year on year from 2021 - 2026 (Mordor Intelligence, 2021). Large tech companies such as Apple have developed their own smartwatches that allows the user to be more connected to the company's ecosystem with a focus on user wellbeing. This market provides huge potential for Foleo allowing them to diversify their business into a similar market reducing costs and risk towards the business. The Foleo smartwatch will be offered to consumers with customisable options such as the material used for the wrist bands, these will include leather, metal, silicone, nylon and rubber. This variety in choices will offer different price points for consumers and increase brand loyalty through consumers buying additional wristbands. The Foleo smartwatch will be packed with the latest smart wearables features such as blood oxygen level, heart rate sensor, fall detection, GPS and the ability to make calls and messages by connecting to their Foleo Slifone. The ability to customise and connect to current devices will make the Foleo smartwatch more attractive to customers in a competitive market and future proof it for new products in the future. SWOT Analysis - Matt: Strengths: • Brand Awareness: Foleo Group and the accessories business unit have been successful in Australia for 10 years and have now expanded overseas into New Zealand, further increasing their brand awareness. • Technology Adopters: Foleo has continued to be adopters of new technologies by integrating them into their products, allowing their customers to benefit from technological innovations and lower price as this is one of their longterm goals. Weaknesses: • Global Image: Foleo Group is recognised nationwide in Australia and New Zealand but, outside of these small domestic markets they are not noticed by other markets around the world such as North America, Europe and Asia. • Production Issues: Currently there are production issues in Australia with the majority of manufacturing going towards Foleo Fones to keep up with the rapidly growing New Zealand market which has meant Foleo Accessories have had inventory and component issues with suppliers as they are not prioritised. Opportunities: • Online Selling: When the Foleo Accessories business unit was created they also offered the ability to purchase products online. In 2015 this contributed to 25% of the total sales for Foleo Accessories and will continue to grow with the global trend of moving towards online shopping. • New markets: Online shopping offers the opportunity of businesses like Foleo to sell their products in new markets, this would generate significantly more revenue than the small domestic markets they currently sell in now. Threats: • Competition: More businesses and larger ones like Apple have created high end smartwatches for years and have amassed the majority of the market with 55% control of the smart wearables market (Eadicicco.L, 2020). • Rising Costs: As a result of ever increasing demand for smart technology products the cost of raw materials have been increasing such as silicon, aluminium, copper and other rare earth metals. This has been further increased due to growing concerns over the environmental impacts of mining these resources, which has also reduced the supply (Conocimiento, 2020). Strategic Alignment - Sitong Luo The board of directors of Foleo Group Limited controls five independent layout departments and directs the operation of the Foleo Group's business headquarters. The goal is to ensure that each independent responsibility center maximizes its own and the entire organization's profits. The current general competitive strategy of Foleo accessories is Cost Leadership. Project Viability - XIN GAO There are three key points to Prove and explain the product of smartwatch Technical feasibility: Comparing the functions of competitors, research how many similar products in the same industry, and what functions and functions are similar. Through the analysis of competing products, we can understand the other party's technical characteristics, product characteristics, development space, market conditions, user preference, and our breakthrough points. Economic feasibility: Expenses for research, research, and development of the product and the economic and social benefits that the product may bring in the future. Social feasibility: Social influence, through the promotion of the product, what social benefits the product will bring to the company, and how much social influence it will increase. I will also search for some relevant data to support my points. Stakeholder Analysis - SIYI LI Internal stakeholders: • • • employees ?Smart watches can improve the sales environment of employees, and indirectly increase the company's profit margins and employee salaries. When the Foleo company produced smart watches, the convenience and speed of the watches were sought after by consumers, the company's profits increased, and employees could profit from it. Manager owners External stakeholders: • • • • • • Suppliers Society Government Creditors Shareholders Customers Measuring Performance - Jack & Tanzeeb: For us to investigate the ongoing performance of the new Foleo watch, a performance measurement must be conducted. We are able to do this by thoroughly analysing nonfinancial and financial performance of Foleo smart watch. There are many advantages and disadvantages of conducting financial and non-financial performance measured on their own but it is vital to use a variety of measures to provide the best overview of how well the new product is performing. The new Foleo Smart Watches will have a balanced scorecard completed with most of the measurements being a great benchmark to help build and grow on in the future. Recent advancement in wearable technologies, particularly smart watches embedded with powerful processors, memory subsystems with various built-in sensors such as ac-celerometer, gyroscope and optical sensor in one single package has opened a whole new application space. One of the main applications of interest is the monitoring of movement patterns, heart rate, ECG and PPG particularly for longer duration in natural environments. Financial Performance Measurements • • • Revenue levels Cost of the product Economic Value Added Non- Financial Performance Measurements • • • Customer satisfaction Market Share Employees satisfaction Balance Scorecard for Foleo Smart Watch • Will be added below Conclusion & Recommendation - Jack & Tanzeeb Conclusion • Will be made at the end of the report when all research is fully conducted. Recommendations • • • The new line of Smart Watches should be differentiated when being compared to the competitors to maintain growth and popularity. The performance measurements and analysis should be analysed and updated annually Thorough research and development should be prioritised to give the best possible outcome to ensure they are above their competitive market. ACCG3001 Organisational Planning and Control Session 1, 2021 Group Research Report – Due: Week 10 REQUIREMENTS - Groups 4, 5, 6. Foleo Accessories GROUP RESEARCH REPORT / BUSINESS PROPOSAL – GENERAL REQUIREMENTS: Students will be allocated to groups of five members in Week 3 tutorial. Each group will be required to submit a comprehensive business proposal for their assigned business unit, which will support Foleo’s corporate-level strategy for expansion. To complete this task, students are expected to conduct their own research into their business unit’s specific industry as well as the academic literature. Students should also research all released Case Study chapters along with the in-class materials for relevant information regarding their assigned business unit. Students need to research the real world’s relevant industry and academic literature to produce a viable proposal for their assigned business unit. Each proposal must be supported by references to at least one academic journal in addition to other reliable sources of information. Each business proposal should follow the prescribed “Strategy for Growth” and include all the requirements outlined in the relevant “Scope of Proposal” for the assigned business unit. Students should also note that the proposed initiative must not only be consistent with the business type, but also with the current competitive strategy of the assigned business unit, and must not negatively impact other business units within the Foleo Group. Proposals are expected to be presented as a formal report to the Board, and as such, should comply with the following structure: i. Title Page ii. Abstract / Executive Summary iii. Table of Contents iv. Introduction v. Body vi. Conclusion and Recommendation vii. Appendices viii. List of References Proposals must be: • no more than twelve (12) pages in length, including tables, figures and appendices, but excluding title page, abstract/executive summary, table of contents and list of references • presented in Times New Roman font size 12 • presented with 2.5 cm margins and 1.5 line spacing • comprehensive and to the point - excessive verbosity, lack of precision or poor writing skill will affect the grade • properly referenced in accordance with the Harvard Referencing System (the referencing guide can be found on iLearn) Each proposal will receive a mark out of 100, which will be converted to the weighting for this assessment item (i.e. 7.5%). This grade will be available to all group members according to their agreed contribution percentage on the coversheet. One electronic version of each group’s proposal (including the coversheet) must be submitted to Turnitin (plagiarism detection software) via the provided link on iLearn BEFORE 9pm Sunday 16 May (Week 10). Late submissions will NOT be accepted (NB: the submission link will be deactivated after the deadline). Plagiarism will not be tolerated and will be penalised, so it is in student’s best interests to submit their own original work. Please note that only one submission per group is permitted, so members within groups must agree on who will submit their proposal. Groups are required to submit a Group Progress Report via the provided link on iLearn BEFORE 9am Monday 19 April (Week 7) which must address the following criteria: 1. The initiative your group suggested to support the growth strategy 2. The ‘real-life’ company you have selected to support your group’s proposal 3. Completeness status of the group report 4. Number of meetings held between the group members 5. Individual contributions of members up to that point 6. Your strategies and plans that are to be followed in order to complete the report until the submission date Submission of this report is mandatory and failure to submit will impact the final grade awarded to the group’s proposal. BRIEFING Foleo Accessories Business Unit Assume your group has been engaged by Foleo Group Limited as a team of consultants. At your initial meeting with the Board, your team has been asked to propose an initiative that will expand the current operations of the Foleo Accessories business unit. This project will require the team to suggest the introduction of a new product, service or business that will achieve growth for the business unit and ultimately, the organisation as a whole. It will involve research into the specific industry in which Foleo Accessories competes, in addition to an examination of its current operations. The long-term goals of the Foleo Group of businesses revolve around growth, stakeholders and technology and can be summed up in the following 4 dot points: o We aim to grow each business by at least 8 per cent per annum over the next decade. o We aim to put our customers’ needs first – to do that we will foster good relationships with them, our suppliers and our employees. o We aim to use and provide the most up-to-date technology available to ensure our customers receive the best product possible at the lowest price. o We aim to provide a working environment for our employees that encourages and facilitates a happy and motivated team. The Board of Foleo Group Limited have provided the following parameters for your research and proposal: Strategy for Growth: related diversification or vertical integration Scope of Proposal: The business proposal must contain the following elements: • The actual initiative being proposed. • An analysis of the external environment of Foleo Group Limited using SWOT analysis. (NB: This analysis should relate to the Foleo Accessories business unit’s specific circumstances, e.g. the strengths of the Foleo Group as it relates to the Foleo Accessories manufacturing business, etc.) • An explanation of how the proposed initiative aligns with the current goals and strategies of the organisation. This explanation should include: i. an identification of the corporate mission and objectives of Foleo Group Limited, and ii. an identification of the current generic competitive strategy of Foleo Accessories. • Evidence that the proposed initiative will be viable for Foleo Accessories. This section should include: i. an explained example of a relevant ‘real-life’ company that has successfully introduced a similar growth initiative as that being proposed, and ii. reference to at least one academic journal that supports the initiative being proposed. • An analysis of the likely impact of the proposed initiative on the below stakeholders: 1. Customers 2. Suppliers 3. Competitors 4. Employees 5. Shareholders 6. The community in which Foleo Accessories operates. • An explanation of how performance will be measured – specific measures should be presented in a Balanced Scorecard and examples of useful/appropriate reports should also be suggested. ACCG3001 Group Assignment - Group 4 Contacts: ? Matthew Hook - matthew.hook@students.mq.edu.au ? SIYI LI — siyi.li1@students.mq.edu.au ? Sitong Luo - sitong.luo@students.mq.edu.au ? XIN GAO- xin.gao4@students.mq.edu.au ? S M Tanzeeb Ahsan Khan- s-m-tanzeeb-ahsan.khan@students.mq.edu.au ? Jack Harry - jack.harry@students.mq.edu.au Growth strategy is related diversification The new product is Foleo Smart Watch Executive Summary: Introduction - Matt: As technological innovation continues in the smartphone industry it is vital to the success and longevity of Foleo Group to adopt these innovations into their products to remain competitive in the market. The smart wearables market is one of the fastest growing markets with a projected 19.5% growth rate year on year from 2021 - 2026 (Mordor Intelligence, 2021). Large tech companies such as Apple have developed their own smartwatches that allows the user to be more connected to the company's ecosystem with a focus on user wellbeing. This market provides huge potential for Foleo allowing them to diversify their business into a similar market reducing costs and risk towards the business. Product Description - Matt: The Foleo smartwatch will be offered to consumers with customisable options such as the material used for the wrist bands, these will include leather, metal, silicone, nylon and rubber. This variety in choices will offer different price points for consumers and increase brand loyalty through consumers buying additional wristbands. The Foleo smartwatch will be packed with the latest smart wearables features such as blood oxygen level, heart rate sensor, fall detection, GPS and the ability to make calls and messages by connecting to their Foleo Slifone. The ability to customise and connect to current devices will make the Foleo smartwatch more attractive to customers in a competitive market and future proof it for new products in the future. SWOT Analysis - Matt: Strengths: ? Brand Awareness: Foleo Group and the accessories business unit have been successful in Australia for 10 years and have now expanded overseas into New Zealand, further increasing their brand awareness. ? Technology Adopters: Foleo has continued to be adopters of new technologies by integrating them into their products, allowing their customers to benefit from technological innovations and lower price as this is one of their long-term goals. Weaknesses: ? Global Image: Foleo Group is recognised nationwide in Australia and New Zealand but, outside of these small domestic markets they are not noticed by other markets around the world such as North America, Europe and Asia. ? Production Issues: Currently there are production issues in Australia with the majority of manufacturing going towards Foleo Fones to keep up with the rapidly growing New Zealand market which has meant Foleo Accessories have had inventory and component issues with suppliers as they are not prioritised. Opportunities: ? Online Selling: When the Foleo Accessories business unit was created they also offered the ability to purchase products online. In 2015 this contributed to 25% of the total sales for Foleo Accessories and will continue to grow with the global trend of moving towards online shopping. ? New markets: Online shopping offers the opportunity of businesses like Foleo to sell their products in new markets, this would generate significantly more revenue than the small domestic markets they currently sell in now. Threats: ? Competition: More businesses and larger ones like Apple have created high end smartwatches for years and have amassed the majority of the market with 55% control of the smart wearables market (Eadicicco.L, 2020). ? Rising Costs: As a result of ever increasing demand for smart technology products the cost of raw materials have been increasing such as silicon, aluminium, copper and other rare earth metals. This has been further increased due to growing concerns over the environmental impacts of mining these resources, which has also reduced the supply (Conocimiento, 2020). Strategic Alignment - Sitong Luo corporate objectives The current long-term objectives of the Foleo Group are growth, stakeholders and technology, including increasing the annual growth rate of the business by 10% over the next ten years. Satisfying customers will be the first objective of the company, and the group will build good communication bridges between customers, suppliers and employees. On the other hand, for the sake of customer satisfaction, the group will use the latest technology to manufacture and produce products, at the same time, the group will supply these products at the lowest price. In addition, the working environment of the employees is one of the concerns of the company. The group will try its best to provide employees with the best working environment so that their work quality, attitude and skills can reach the best state. Foleo accessories was established in 2004, and now the general manager Robyn Smith is responsible for the production and sales of accessories. In order to reach agreement with the current goals of the Foleo Group, the Foleo Accessories business unit will achieve the goals through the following methods. Firstly, the company needs to improve the quality of its products in order to reduce the rate of customer complaints and attract more customers. The management needs to check the quality of raw materials and semi-finished products as well as finished products. At the same time, the selection of suppliers will also have a significant impact on products. Frequent contact should be made with the person in charge of purchasing and the warehouse manager to confirm the high quality of the raw materials for manufacturing parts, such as leather and electronic components. Secondly, as the organization increases its profitability and needs to maximize customer satisfaction, the manufacturing business of Foleo accessories should be expanded to include independent production plants, warehouses and purchasing departments. By operating a separate manufacturing plant, not only increase the unit output to meet the organization current demand, but also increase the growth rate of the customer base. In addition, a separate warehouse will ensure that the storage, use and transportation of raw materials can be done independently, which will reduce stock-outs and late deliveries and increase the efficiency of production. Finally, a separate purchasing department is also important to Foleo Accessories, as the timeliness and quality of raw material deliveries have a bearing on manufacturing sales and the quality of the final product. Furthermore, the customers of Foleo accessories are mainly divided into telecommunication suppliers, end users in Australia and Foleo Retailing NZ. By improving product quality and using the latest technology to produce products, it has improved customer satisfaction. Significantly, for the organization, Foleo Retailing NZ is the biggest problem, due to capacity and raw material constraints. It was not possible to supply enough products to Foleo Retailing NZ in time for this division to sell. However, by establishing a separate manufacturing plant, warehouse and purchasing department as report mentioned before, this problem will be solved. Finally, the organization should enhance staff training to strengthen the quality and skills of employees and introduce a performance evaluation system to encourage and reward employees. Competitive strategy On the other hand, current competitive strategy of the Foleo Group is cost leadership, by reducing the cost of products and services to compete with competing companies in the market. In terms of cost leadership, the selling price is generally lower or equal to the industry average, and the company will reduce costs to increase profits (Kataria, 2019). In order to successfully achieve the current competitive strategy, Foleo Accessories can reduce the cost of materials and facilities by increasing logistics sales. By establishing a separate production plant, the company will have a higher volume of products to produce, the more units produced the lower the unit cost, and having a separate warehouse means that the company can store more raw materials, transport raw materials and products more efficiently, reducing costs. Also, a large number of long-term supply relationships with suppliers through an independent purchasing department can reduce the cost of raw materials. At the same time, the latest technology and production methods can reduce costs. In summary, companies can reduce costs by expanding their operations, using the latest technology and increasing the scale of procurement. The advantage of this is that the company sells products at lower prices but can attract more customers and increase market share. Project Viability - XIN GAO Technical Feasibility: There are several products in the industry that are similar to smartwatch, bigger brands like Apple, Samsung, Huawei and so many bigger names of brands that offer computer and technology, by having these brands open the market for the use of smartwatches, the only this that is crucial to this product is its innovative features and applications. One factor of smartwatches is its design. Many users of smartwatches consider this feature of the product, its design that must be aesthetically pleasing and somehow lightweight is one of the factors considered by the consumer of the product. Battery life also plays a vital role in consideration for the purchase of smartwatches. The longer the battery life, the longer the use of smartwatches meaning, the consumer can use. The features provided by the product, one of the features of the smartwatch is it can monitor your health by counting the number of steps done, heart rate, calories needed and calories intake. This feature also gives the product unique to other type of watch. Economic Feasibility: The expenses for the research and research and development are considered variable in this study and also plays huge role for the product to emerge in the market. Expenses for research will bring the product up to date and keeps stable stance in the market. By having budget for research, the company can sustain the product’s usefulness in the market as well as the product’s help to the economy, society and the consumer who will use this product. Research and development are one of the costs that is considered as an asset in some sense. Research and development have a big role in developing the product and keeping the product suitable for its purpose in the market. Smartwatches do have many features to be updated and maintained every now and then, the use of research will help the company produces smartwatches to modify the product based on the increasing level of demand for smartwatches, growth of technology, customers feedback and many other factors that affects the use of smartwatch. Considering other economic factors, smartwatch somehow create its on market for users that are into most innovative technology and keep their gadgets updated. Some of the benefits of smartwatches is that it has health features that shows the current heart rate of the user, the oxygen level of the body and the required nutritional intake in a daily basis. Many smartwatches have this feature that connects to your personal cellular phone and has access to some applications such as messages and phone calls, by having this feature, the user can lessen the use of his regular cellular phone and can access some applications even without bringing the cellular phone or mobile itself. Giving the benefit of convenience, many smartwatches upgrade its durability, battery life and other applications which can help the user or consumer utilize every use of the product. Social feasibility: By having the smartwatch available to the market, it will increase the social status of the company by promoting advanced technology and providing quality smartwatch. By doing so, the company can target certain target market like the ones who uses smartwatches for their personal needs and other use such as in business and health. The company can cater consumer such as business men, around 28 years old to 50 years old, who uses smartwatches as their calendar, reminder, health monitor and other features that is relevant in business. It can also cater other persons like personal trainers for their healthy lifestyle, and students who use smartwatch for research and messaging. By promoting smartwatches, the social influence of the company will increase by certain percentage because of the versatility of the product and the being flexible to the user of the product. Stakeholder Analysis - SIYI LI Internal stakeholders: ? employees ?Smart watches can improve the sales environment of employees, and indirectly increase the company's profit margins and employee salaries. When the Foleo company produced smart watches, the convenience and speed of the watches were sought after by consumers, the company's profits increased, and employees could profit from it.Although the company's ability to make money has increased, it has also increased the workload of its employees. They will work more overtime and work more busy. Smartphones indirectly reduce their rest time and increase their feeling of fatigue. Figure1: net sales by category for 2020, 2019 and 2018 (Apple 2020) It can be seen from Figure 1 that the sales of Apple's mobile phone accessories in 2019 and 2020 have improved. It accounts for 25% of net sales in 2020, which is a very large sales overall. So this also allows the company to make more profits. This can indirectly increase the performance of employees. ? Manager:Smart watches make products diversified, so managers need to manage more data. Smart watches will allow managers to spend more time and energy to operate. Such as product promotion, production line process, product raw material purchase, factory expansion and construction, etc. The cumbersome workload increases the pressure on managers, which is a test for managers. A good manager can also make smart watches known to more people. If the manager does not arrange properly in each process, then smartwatches are prone to problems in production and sales.If Foleo hires managers, they must be strong enough to be competent. ? owners?The most important thing for owners is whether the product can increase the company's investment income. There is no doubt that smart watches can do it.DQINDIA ?2015? once counted that in the year the Apple Watch was sold, revenue increased by 6 million US dollars.The smartwatch launched by Apple connects to the ios system, opening the door to smart watches. Smart watches can be connected to other Apple devices via Bluetooth to achieve smart operations. Very much sought after by the market. Apple's return on investment has become higher, and company owners are satisfied. External stakeholders: ? Suppliers?Manufacturers need to ensure that smart watches bring sufficient profits. This profit needs to be compared with other mobile phone accessories and even mobile phones. Therefore, factory employment costs and material costs should be minimized and the efficiency of production should be maximized. Because smart watches are advanced products, so the profit of the product is likely to meet the requirements of suppliers. Similarly, if the manufacturer's unit cost and efficiency do not meet the standards, it is easy to cause huge losses to Foleo, which also requires more attention. ? Society?Smart watches promote the progress of society. It is an innovative invention that used to watch the time only with hands to watch the time now can be controlled by voice. The society has given positive recognition to the watch, which has further promoted the development of smart watches. ? Creditors?Smart watches allow creditors to receive payment faster and receive loan principal and interest. In Apple, the emergence of smart watches has deepened the public's brand recognition.Jeff Carlson ?2020, p.1?once studied and found that smart watches have become electronic devices in the world. ? Shareholders?From the birth of smart watches to the present, Apple’s stock price has been continuously reaching new highs. Shareholders have made numerous profits, and everyone is proud of holding Apple’s stock. The quality of the Apple Watch has been recognized by everyone. Product sales have increased, and the company's strength has increased, and the stock price has naturally risen. ? Customers? Customers and smart watches are most directly related because they are direct users. Smart watches can help them locate accurately, connect to the network and perform smart operations. With the development of technology, smart watches can also test a person's heart rate and record health conditions. In the digital age, this watch can replace mobile phones for digital applications, such as positioning, taking pictures, and mobile payments. Compared with traditional watches, smart watches have added a variety of functions to enhance the practicability of watches. If the watch has any problems that harm the interests of customers, then sales will drop, revenue will also drop, and other stakeholders will also be affected. Therefore, it is very important to ensure the quality of smart watches and maintain the relationship between the company and customers. Measuring Performance - Jack & Tanzeeb: For us to investigate the ongoing performance of the new Foleo watch, a performance measurement must be conducted. We are able to do this by thoroughly analysing non-financial and financial performance of Foleo smart watches. There are many advantages and disadvantages of conducting financial and non-financial performance measured on their own but it is vital to use a variety of measures to provide the best overview of how well the new product is performing. The new Foleo Smart Watches will have a balanced scorecard completed with most of the measurements being a great benchmark to help build and grow on in the future. Recent advancement in wearable technologies, particularly smart watches embedded with powerful processors, memory subsystems with various built-in sensors such as ac-celerometer, gyroscope and optical sensor in one single package has opened a whole new application space. One of the main applications of interest is the monitoring of movement patterns, heart rate, ECG and PPG particularly for longer duration in natural environments. Financial Performance Measurements - Revenue levels Cost of the product Economic Value Added Non- Financial Performance Measurements - Customer satisfaction Market Share Employees satisfaction Balance Scorecard for Foleo Smart Watch - Will be added below Conclusion & Recommendation - Jack & Tanzeeb Conclusion - Will be made at the end of the report when all research is fully conducted. Recommendations - The new line of Smart Watches should be differentiated when being compared to the competitors to maintain growth and popularity. The performance measurements and analysis should be analysed and updated annually Thorough research and development should be prioritised to give the best possible outcome to ensure they are above their competitive market. References: 1. https://www.alliedmarketresearch.com/mobile-accessories-market 2. https://www.apple.com/newsroom/pdfs/FY20_Q4_Consolidated_Financial_Statements.p df 3. https://www.statista.com/statistics/382260/segments-share-revenue-of-apple/ 4. https://www.marketstudyreport.com/reports/global-wearable-technology-market-size-research 5. https://www.globenewswire.com/news-release/2021/02/04/2169697/0/en/Global-wearabletechnology-market-size-to-record-15-51-CAGR-through2027.html#:~:text=04%2C%202021%20(GLOBE%20NEWSWIRE),15.51%25%20over%20202 0%2D2027. 6. Apple 2020, Apple, Annual reports? 7. DQINDIA Online 2015, ‘Apple hits $1 billion revenue in smart watch sales in just 87 days’ Dataquest. 8. Jeff Carlson 2020, Take Control of Apple Watch, Take Control Books. 9. Kataria, K., 2019. Cost Leadership – Definition, Examples, & Strategies. [Online],Available at: https://www.feedough.com/cost-leadership-definitionexamples-strategies/ [Accesse 5 May 2021]. + 3H2 HD 56.10 ON 01 54% 2:46 ???? K og OV- Strategic Alignment - Sitong Luo The board of directors of Foleo Group Limited controls five independent layout departments and directs the operation of the Foleo Group's business headquarters. The goal is to ensure that each independent responsibility center maximizes its own and the entire organization's profits. The current general competitive strategy of Foleo accessories is Cost Leadership. P cct Viability - XIN GAO here are three key points Prove and explain the product of smartwatch Technical feasibility: Comparing he functions of competitors, research how many similar products in the sa. industry, and what functions and functions are similar. Through the analys. f competing products, we can understand the other party's technical charact.rs, product characteristics, development space, market conditions, ar preference, and our breakthrough points. Ecomic feasibility: Expenses for research, research, and devlopment of the duct and the economic and social benefits that the pro act may bring in e future. Social feasiu. *** Social influence, through the promotion o he product, what social benellus induct will bring to the company nd how much social influence it will increase. I will also search for some relevant data my points. Stakeholder Analysis - SIYI LI Internal stakeholders: employees : Smart watches can improve the sales environment of employees, and indirectly increase the company's profit margins and employee salaries. When the Foleo company produced smart watches, the convenience and speed of the watches were sought after by consumers, the company's profits increased, and employees could profit from it. Manager owner's External stakeholders: . Suppliers Society Government Creditor's Shareholder's Customers . Measuring Performance - Jack & Tanzeeb: For us to investigate the ongoing performance of the new Foleo watch, a performance measurement must be conducted. We are able to do this by thoroughly analysing non- financial and financial performance of Foleo smart watch. There are many advantages and disadvantages of conducting financial and non-financial performance measured on their own but it is vital to use a variety of measures to provide the best overview of how well the new product is performing. The new Foleo Smart Watches will have a balanced Scorecard completed with most of the measurements being a great benchmark to help build and grow on in the future. Recent advancement in wearable technologies, particularly smart watches embedded with powerful processors, memory subsystems with various built-in sensors such as ac-celerometer, gyroscope and optical sensor in one single package has opened a whole new application space. One of the main applications of interest is the monitoring of movement patterns, heart rate, ECG and PPG particularly for longer duration in natural environments